Advisors Asset Management Inc. Reduces Stake in Apollo Investment Corporation (AINV)
Advisors Asset Management Inc. cut its position in Apollo Investment Corporation (NASDAQ:AINV) by 13.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 330,213 shares of the asset manager’s stock after selling 51,167 shares during the period. Advisors Asset Management Inc.’s holdings in Apollo Investment Corporation were worth $2,110,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of AINV. Catalyst Capital Advisors LLC purchased a new position in Apollo Investment Corporation during the second quarter worth about $738,000. Sigma Planning Corp increased its position in Apollo Investment Corporation by 26.3% in the second quarter. Sigma Planning Corp now owns 90,722 shares of the asset manager’s stock worth $580,000 after buying an additional 18,900 shares during the period. Rhumbline Advisers increased its position in Apollo Investment Corporation by 0.3% in the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock worth $107,000 after buying an additional 58 shares during the period. Trexquant Investment LP increased its position in Apollo Investment Corporation by 11.3% in the second quarter. Trexquant Investment LP now owns 25,600 shares of the asset manager’s stock worth $164,000 after buying an additional 2,600 shares during the period. Finally, Camelot Portfolios LLC increased its position in Apollo Investment Corporation by 2.1% in the second quarter. Camelot Portfolios LLC now owns 1,061,383 shares of the asset manager’s stock worth $6,782,000 after buying an additional 21,731 shares during the period. Institutional investors and hedge funds own 46.36% of the company’s stock.
Apollo Investment Corporation (NASDAQ:AINV) opened at 6.16 on Thursday. Apollo Investment Corporation has a one year low of $5.65 and a one year high of $6.82. The stock’s 50 day moving average price is $6.34 and its 200 day moving average price is $6.39.
Apollo Investment Corporation (NASDAQ:AINV) last released its earnings results on Friday, August 4th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. The firm had revenue of $66.70 million during the quarter, compared to analyst estimates of $65.19 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. Apollo Investment Corporation’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. On average, analysts forecast that Apollo Investment Corporation will post $0.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 21st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 9.74%. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 150.00%.
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A number of research firms have issued reports on AINV. BidaskClub downgraded Apollo Investment Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Bank of America Corporation reiterated an “underperform” rating and issued a $6.00 price objective (up previously from $5.50) on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. National Securities reiterated a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Zacks Investment Research upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Apollo Investment Corporation in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $6.33.
Apollo Investment Corporation Company Profile
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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